ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test

12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 11 (Non-Negotiable Instruments)

ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test

Start Chapter 11 Test

12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 11 (Non-Negotiable Instruments)

Sr. # Questions Answers Choice
1 Which of the following is useful in facilitating trade relation between the businessmen of different countries
  • A. Bank draft
  • B. Money order
  • C. Letter of credit
  • D. Stock certificate
2 IOU is a document
  • A. Negotiable
  • B. Non-negotiable
  • C. Conditional negotiable
  • D. Unconditional negotiable
3 What is the nature of credit instrument IOU
  • A. An autograph
  • B. A monograph
  • C. A holograph
  • D. A sonograph
4 What is recieved by the post office on money order:
  • A. Profit
  • B. Interest
  • C. Commision
  • D. All of the above
5 Which of the following is used to finance the people who want to travel abroad
  • A. Traveller's letter of credit
  • B. Traveller's cheque
  • C. Circular note
  • D. All the above
6 Which of the following is an order of payment by one post office for another post office
  • A. Postal order
  • B. Money order
  • C. Both a and b
  • D. None of these
7 Commercial letter of credit is issued for the facilty of:
  • A. Ambassadors
  • B. Common people
  • C. Businessmen
  • D. Alll of the above
8 Which of the following gets facility due to commercial letter of credit:
  • A. Home traders
  • B. Exporter
  • C. Importer
  • D. Both exporter and importer
9 The letter of credit which can be endorsed to another person is called:
  • A. Special L.C
  • B. Transferable L.C
  • C. Resolving L.C
  • D. None of the above
10 Which one can be crossed :
  • A. Money order
  • B. Postal order
  • C. Credit card
  • D. All of the above

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